Should you renovate your HDB or move to a new condo

Home improvement becomes necessary when you have lived in your first home for a couple of years. Besides the normal maintenance needs, you may have moved up the ladder in your career and also the size of your family may have increased. It’s natural for most people to start off with a smaller home mainly due to some financial restrictions but as time goes by your experience an improvement in your finances. During this time, you start feeling the urge to remodel your home due to your improved social status. This is also the time when you might be pondering whether to buy a bigger home. It’s not an easy decision to take and you would do well to consider various aspects before deciding on what to do, for example, whether to move out to a new condo or renovating your current HDB unit in Singapore.

Moving To A New Home

Pros:

-A new apartment is a lot easy to keep up with because of the significant improvements in the competence and durability of building materials. You don’t have to do significant home repairs and enhancements as soon as you get the home. Rather, you can invest your time on house warming celebrations with friends and family.

-Nothing is better than moving into an apartment that demonstrates your personal preferences. You may customize it, plan the outdoor and indoor designs, design your kitchen and specify an area for your family interests and leisure activities with respect to your taste and style.

-Moving to a new home will allow you to tailor the spaces to your ideal needs. A new home is more flexible and you have a lot of freedom to explore all possible options like having a large closet or family rooms and kitchen with storage systems.

-With a new apartment, you have the possible options like computerized systems for entertainment, lighting, automation, and security. It will easier to furnish a new home with the latest appliances in technology than an older home.

– Recently built homes are constructed with materials that are environment-friendly and efficient in lowering energy cost. You also have choices for more ease,comfort and greener environment within your home.

-Safety-wise, a new apartment will comply with all the newest building codes that have more requirements in regards to construction system and materials. The residents are secured in a new home because new homes will have 24 hours safety and security system.

-A new apartment is usually in a community of well-planned development and lifestyle.You will have something in common with your new neighbors for these communities have amenities like an exclusive golf course. This type of community provides a chance for residents to get involved and experience community growth.

Cons:

-Moving to a new apartment requires substantial monetary allocation especially in applying for a mortgage. This includes the fees incurred for the home appraisal, title insurance and credit reports among others. Furthermore, the commissions for the real estate agent who helped you is likewise inclusive of the charges you may be obliged to comply with.

-Moving to a new apartment may be definitely a time-consuming and stressful venture to start with because it is a tedious task that involves many sorts of steps and methods from the start to the end. In remodeling a house, you just have to deal with the planning and how it meets the building permit requirements, and regulations of your locale especially if your project is potentially affecting other neighbors.

-Another intangible cost for purchasing a new home is the adjustment period that your family is going to bear. Moving to a new home may be definitely equivalent to a new neighborhood, new friends and school. Whereas if you stay in your old house and prefer renovating it instead, you spare yourself and your family from being uprooted in your comfort zone to fit into an all new environment.

Renovating Your Existing Home

Pros:

–Increases the value of your home. Moving to a home may be the biggest financial investment that most individuals make. Remodeling or renovating your home is one of the best options to increase the value of your home and also property. Whether or not you plan to refinance the mortgage, sell the home, or perhaps just investing in your residence in Singapore, then Interior Design Singapore is a good way to increase the value.

-Increases more comfort.Employing the best renovation contractors, you can redesign the kitchen and bathroom and as your living bedroom as you want, which makes your home more pleasurable than before. By redesigning you will immediately ensure the places are better laid out and thus render it significantly more usable. You will not have to face the stress of changing schools and restaurants.You will be shopping at the same stores and eating at the same restaurants.

– Decreases maintenance costs.Every building in has to be taken care of in order to keep its value. Your home is no exception. Home fix costs frequently increase significantly whenever maintenance is ignored or postponed too long. Launching a fix or perhaps progress project when a problem is 1st noticed will frequently salvage money.Remodeling your home can reduce upkeep costs later on.

– Restores the value of your home.Renovating your home can restore the home of its actual style. Incorporating a contemporary look which may range between anywhere between straight forward wall papering to getting rid of, adding or moving walls so as to increase the size of rooms.

-Less hidden costs than new homes.New homes come with impact fees, permit fees and other hidden expenses. Remodeling does not involve such fees levied on a new apartment.

Cons:

-Just like moving out of your home, home improvement isn’t fun either. You definitely need to put your time, effort and consider the issue of a priceless peace of mind in the process of upgrading your house.Depending on the extent of the refurbishment you’re thinking of having done, you may even find that you have to move out of your home for a spell in any case.Otherwise, all the furniture and other belongings might have to be stacked in a room or a corner to make way for the workmen who will be swarming all over the place.

-While an increase in value is likely to occur due to home improvement, it is not guaranteed. If your value of your home does increase due to a home remodeling project, it all depends on how much renovation was done and the result of that renovation. A quality or professional renovating job is likely to produce the best improvement in value and this may prove to be costly.

-It is not practical if you are considering a whole house renovation.It may not be worth renovating everything in your house while you can move to a new house that is already refurbished.

Moving to a new home or home improvement are two realities that need thorough and careful evaluation before deciding on which one to go with. Hence, before making the final decision, weigh your different options and go only for one that will give you productivity for quality living conditions.